What Credit Crunch?

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Sat 11 Oct 2008 01:27
What Credit Crunch? - imb
I love to look at car adverts to see if anyone is offering an intertesting deal. However, having sold our 2 car privately I'm looking for replacements. Like many others have experienced, long before the current worldwide financial meltdown car dealers offered peanuts for our cars (both 51 plates) and, as stated we sold privately gaining a few hundred quid.

So we have gone from dealer to dealer in our area (Glasgow). Very few want to discount new cars with or without a part exchange. Many dealers eg Nissan say they just can't get the cars or the profit is so low they are lucky to take £500 off the price of a new one. Obviously, prices in England are better as per this website.

One particular dealer is claimimg to be 'beating the crunch' up here... but they are advertising special offer cars at the same price as they were before all this happened. The likes of your basic Corsa's without air con etc.

So when will dealers give us a real deal???
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Sat 11 Oct 2008 01:37
What Credit Crunch? - OldSkoOL
Dealers are really feeling the strain as you have seem, sales down around 21% according to a few reports.

Basically most manufacturers have cut production of new cars, some models more than others. Most sales going fleet way, most garages in our city if not all have made people redundant.

Dealers are also loosing so much money on all cars that don't sell. Only half a year ago they were excepting px or buying in cars that just sit around depreciating.

They need as much money as they can get.

In a stable market the "undercut the competitor" appoach would ensure sales. In todays market where no-one is buying that tactic is not working so good and therefore not enough bargain sales are being made to keep afloat so people are getting desperate and trying to reel in as much money as possible. The salesmen are under pressure as the majority are paid a very low basic with bonuses depending on sales volume.

It means targeting standard spec cars, particularly affordable low engine, low co2, high mpg superminis.


Edited by OldSkoOL on 11/10/2008 at 01:40

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